Liquid Transport (Offshore Business)

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Liquid Transport (Offshore Business)

Developing Offshore Business

In October 2008, NYK established the Offshore Business Group and made entry into the offshore business field.

The majority of oil and natural gas is produced from land and shallow-water fields, but NYK can no longer expect new discoveries in those areas. Instead, the development of deepwater fields and unconventional oil and gas resources are expected to expand as new sources of crude oil and natural gas.

NYK Group companies have been involved in the upstream areas of the supply chain for oil and natural gas, areas involving the use of drillships; floating production, storage, and offloading units (FPSO); and shuttle tankers. In the future, NYK Group companies will consider becoming active in similar businesses, such as floating liquefied natural gas (FLNG) units, and downstream areas such as floating storage and regasification units (FSRU), by not only maximizing the group's ability to operate ships in a fixed position offshore but also acquiring advanced engineering skill and know-how from the offshore business. The group will also leverage its experience in handling specialized cargo and managing ships, knowledge that NYK has accumulated over the years in the group's crude oil, LNG, and LPG business activities.

NYK believes the offshore-related business will strengthen its relationships with existing customers in both upstream and downstream areas thanks to the synergy effect with businesses in the group's maritime divisions. Given the outlook that offshore oil and gas development is expected to accelerate further in the years ahead, the NYK Group will work to expand and develop the offshore business as a main pillar of stable returns over an extended period of time.